NEW YORK, March 26, 2018 /PRNewswire/ --
MarketResearch.biz has published a new report titled Global Biodiesel Market by Component (Vegetable oil, and Animal fat), Application, And Region - Global Forecast to 2026.", which offers a holistic view of the global biodiesel market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue of the global market (2017-2021) is projected to be US$ 1,92,047.7 Mn, which is expected to increase rather significantly over the latter part of the five-year forecast period. The report offers insightful and detailed information regarding the various key players operating in the global biodiesel market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global biodiesel market is segmented in feedstock type, application, and region.
Biodiesel is a renewable, clean diesel made from natural elements such as vegetable oils, microalgae, animal fats, etc. Biodiesel has found its application is many industrial verticals, fuel, and power stations owing to its properties. Biodiesel is similar to conventional or fossil fuel made by chemically reacting these natural elements through a process called transesterification which essentially splits the oil into two parts: alkyl esters and glycerin.
Biodiesel is produced by transesterification process using vegetable oil or animal fat by converting into long chain mono alkyl esters. Four types of biodiesel blends are available namely B100, B20, B5, and B2. Blends are decided depending upon percentage ratio of biodiesel and petro-diesel.
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Global Biodiesel Market: Dynamics
Increasing carbon emissions due to use of fossil fuels is resulting in need for implementation of stringent regulations by governments to initiate adoption of biodiesel. Biodiesel degrades more rapidly than conventional diesel fuels and is completely non-toxic, which helps minimize environmental consequences of biofuel spills. Moreover, biodiesel emits lower contaminants such as carbon monoxide, polycyclic aromatic hydrocarbons, aldehydes, and particulate matter. Minimum Sulphur dioxide emissions, and reduced emissions of carcinogenic substances further reduce the chances of health risks. These factors are expected to drive growth of the global biodiesel market.
However, the manufacturing process of biodiesel from vegetable oil and animal fat is very extensive and requires high investment, which is expected to challenge growth of the global biodiesel market.
Production of second generation biodiesel using alternative process may create lucrative opportunities for manufacturers operating in the global biodiesel market.
Global Biodiesel Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global biodiesel market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global biodiesel market is expected to expand at a CAGR of over 4.0% during the forecast period.
Global Biodiesel Market: Segmental Snapshot
The global biodiesel market is segmented in feedstock type, application, and region. On the basis of feedstock type, the market is segmented into vegetable oil and animal fat. On the basis of application, the market is segmented into fuel, power generation, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, South America, and Middle East & Africa.
According to global biodiesel market infographics published on MarketResearch.biz, over 4% CAGR by feedstock type.
By feedstock type: The vegetable oil segment is estimated to register a CAGR of over 4%, thereby accounting for highest revenue share among the feedstock type segments.
By application: The fuel segment is estimated to account for highest revenue share among the application segments, registering a CAGR of over 5% during the forecast period.
By region: The market in Europe accounted for highest revenue share in the global biodiesel market in 2016, and the market in Asia Pacific is expected to register highest CAGR of over 5% between 2017 and 2026.
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Global Biodiesel Market: Competitive Analysis
The research report on the global biodiesel market includes profiles of major companies such as Archer Daniels Midland Company, Wilmar International Ltd., FutureFuel Corporation, Renewable Energy Group, Inc., BIOX Corporation, American Biodiesel, Inc., Incobrasa Industries, Ltd., AgriBioFuels, LLC, Bunge Limited, Münzer Bioindustrie GmbH
Biodiesel Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global biodiesel market for 2017-2026.
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